After the ceasefire agreement between Iran and Israel, oil prices in international markets have started to decline, and this trend is now being reflected in Kosovo as well. According to the Association of Oilmen and economic experts, the stabilization of the geopolitical situation has reduced pressure on fuel prices. They believe that fuel stations in the country should immediately reflect a price reduction, as reported by KosovaPress. The head of the Association of Oilmen, Fadil Berjani, in a written response to KosovaPress, said that after the easing of tensions between Israel and Iran, markets are calmer and prices have started to drop.
Berjani also disclosed that current prices in the Kosovar market are: diesel from €1.24 to €1.32, and gasoline from €1.23 to €1.31 per liter.
"Following the ceasefire agreement between Iran and Israel, tensions have eased and oil prices have begun to fall. Markets no longer see the risk of a major war or the closure of the Strait of Hormuz — a key oil supply route — as imminent. High production from the U.S. and weaker demand from China and Europe are pushing prices even lower. However, if the ceasefire collapses or there's an attack in oil zones, prices could rise again very quickly. Current prices in Kosovo are: diesel: €1.24–€1.32, gasoline: €1.23–€1.31," Berjani stated.Economic experts also say prices at fuel stations in Kosovo should drop. Economist Safet Gërxhaliu emphasizes the need for an immediate reflection of prices in the local market, while criticizing institutions for their lack of appropriate response.
“Trump's statement urging prices not to rise so that there’s no uncontrolled price increase should also have effect and implementation in Kosovo. Unfortunately, we have a Competition Authority in Kosovo that is far more politicized than focused on protecting the interests of citizens and businesses, which is why speculative trade is tolerated. Secondly, the Inspectorate in Kosovo must be more active in monitoring the oil derivatives market. However, more worrying is that speculative trading in Kosovo is very agile and takes advantage of every moment for profit. It must be understood that in international trade psychology, prices rise rapidly during crises but don’t fall back to the original level. It is professional not to exploit this price-hike phenomenon and for it to be monitored professionally by competent bodies of Kosovo’s government,” Gërxhaliu said. Another economic expert, Ismet Mulaj, also says prices should fall. He notes that prices in the global oil exchanges have dropped, and this should be automatically reflected at Kosovo’s fuel pumps by 10 to 15 cents per liter.“Starting today, since the main determining factor is the price on international exchanges, and that price has dropped, then it should automatically be reflected at fuel pumps in Kosovo… A 10 or 15 cent drop would be natural,” said Mulaj.
U.S. President Donald Trump called on Monday for keeping oil prices low, as prices had risen to a five-month high following U.S. weekend strikes on Iran’s nuclear facilities.
Afterward, he announced that a ceasefire had been reached between Israel and Iran, as reported by KosovaPress. Through a post on social media, Donald Trump gave details of the ceasefire, saying the war could have continued for years, leading to the destruction of the Middle East.But, as he stated, that will not happen.
According to Trump, “within 24 hours,” the war will officially be over."Congratulations to everyone! A full and total ceasefire agreement has been reached between Israel and Iran (approximately 6 hours from now, once both sides have completed their final ongoing missions!), for 12 hours, at which point the war will be considered over! Officially, Iran will begin the ceasefire, and at 12 o’clock, Israel will begin the ceasefire, and by 24 o’clock, an official end to the 12-day war will be welcomed by the world. During each ceasefire period, the other party will remain peaceful and respectful. Assuming everything goes as planned, which it will, I would like to congratulate both countries, Israel and Iran, for the resilience, courage, and intelligence shown to end what should be called the ‘12-Day War.’ This is a war that could have gone on for years and destroyed the entire Middle East, but it didn’t, and it never will! God bless Israel, God bless Iran, God bless the Middle East, God bless the United States of America, and God bless the world!" Trump wrote.
Israel stated that it agreed to U.S. President Donald Trump’s ceasefire proposal following its successful military actions in Iran, according to a statement on behalf of Prime Minister Benjamin Netanyahu’s government.
Israel is accusing Iran of violating the ceasefire and says it is launching attacks on Tehran, SkyNews reports, as cited by KosovaPress.
